The Indian stock market has been experiencing a range-bound movement in December, with the Nifty 50 down by over 1% for the month. However, experts believe that the market may see healthy growth in the next year due to expected earnings growth and healthy growth-inflation dynamics.
Market Outlook for 2026
The Nifty 50 outlook remains constructive, supported by a combination of steady tax revenues, a stable GST regime, rising disposable income, and an anticipated US trade deal that should sustain both consumption and corporate earnings. A close above 26,300 will be a very important technical trigger and is likely to confirm a fresh upward trend for the index over the next 12 months.
Top Value Stocks to Buy for Long-Term Growth
Vinit Bolinjkar, the head of research at Ventura, lists 10 value stocks to buy for the next two years. Here are the top picks with their two-year target prices and investment rationale:
- Adani Power: Target price - ₹850, Upside potential - 494%. Recommended for robust power demand, capacity expansions, and margin improvements.
- Adani Green Energy: Target price - ₹2,142, Upside potential - 110%. Recommended due to Vision 2028, targeting 140 MTPA capacity, green energy at 60%, and EBITDA/ton of ₹1,500 via capex of ₹9,000-10,000 crore in FY26.
- One 97 Communications (Paytm): Target price - ₹2,074, Upside potential - 64%. Recommended as a fintech turnaround with FY28 P/E of 36.9 times, driven by regulatory clarity, user growth, and monetisation.
- Royal Orchid Hotels: Target price - ₹600, Upside potential - 56%. Recommended due to strong demand, higher room rates, and an asset-light expansion strategy.
- Capri Global Capital: Target price - ₹274, Upside potential - 53%. Recommended for NBFC growth in lending, asset quality improvements, and yield enhancements amid a consumption uptick.
- Ambuja Cements: Target price - ₹794, Upside potential - 47%. Recommended due to capacity expansion under the Adani Group’s push towards 140 MTPA by 2028, and cost-optimisation.
- V-Mart Retail: Target price - ₹1,069, Upside potential - 41%. Recommended due to 16% revenue CAGR to FY28 via store expansions and margin gains in value retail.
- Adani Ports and Special Economic Zone: Target price - ₹1,900, Upside potential - 28%. Recommended due to volume growth, tariff hikes, and port expansions.
- Bajaj Finserv: Target price - ₹2,200, Upside potential - 9%. Recommended due to strength in top gainers, with NBFC lending, insurance cross-sell, and deposit growth projecting 20% upside from GST efficiencies and rural revival.
- SBI: Target price - ₹1,050, Upside potential - 8%. Recommended for deposit mobilisation, NIM stability, and retail lending surge.
Remember, this is a perspective, not a prediction. Do your own research and consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.